Brokers News

Back in December last year we told you about GFT exiting the U.S. retail forex market, transferring its client base to Gain Capital's Forex.com.

On a couple of occasions we tried to guesstimate the number of accounts and amount of client assets transferred, however no official data was released. We observed Forex.com's customer money grow by 44% in 2012 and while this was indicative of the broker's sustainable growth, it did not help us figure out what was it exactly that Forex.com got from GFT (throughout the year the broker took over the customers of two other brokers that withdrew from the USA).

Earlier today LeapRate came out with an exclusive peace shedding a little bit more light on the matter: the site claims to have learned that Gain Capital paid nothing upfront for taking over GFT's American traders.

After the transfer, Forex.com registered a mere $7 million increase in customer assets, and that was a bit surprising given that GFT reported that by November 2012 it held $81 million of client funds for its U.S. division, so the question remains: where did the remaining money go?

Apparently, most of the money belonged to non-US customers, and was transferred to GFT's other divisions. Currently GFT operates out of Singapore, the United Kingdom and Australia and these operations have remained unchanged after the broker's exit from the American spot forex market – so it only makes sense for customers who are not U.S. residents to continue trading with a different branch of the same broker, even though the traders who migrate to Forex.com can still trade with GFT's own platform Dealbook360 platform.

Frankly, it doesn't take more than a little bit of common sense to jump to the conclusion above, based on the data that is publicly available – and while LeapRate is generally a very reliable source of information, you should keep in mind that these details have not been officially confirmed by GFT or by Forex.com. As I said, it all seems legit, but until it is confirmed, I'd rather take this piece of information as a rumor rather than official news. The fact remains that with or without the $81 million, Forex.com remains one of the gladiators on the forex scene, and an excellent broker to trade with.

Through our retail brand, FOREX.com, we provide retail traders around the world with access to a variety of global OTC financial markets, including forex, precious metals and CFDs on commodities and indices. GAIN Capital also operates GTX, a fully independent FX ECN for hedge funds and institutions; OEC, an innovative online futures broker; and GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. broker-dealer.

GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore; Beijing; and Seoul.

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.

Exness is a leading forex broker, offering MT4 and MT5 platforms. Traders can take advantage from a true ECN environment and trade on ultra tight spreads, starting from 0 pips.

HYCM is global forex broker with more than 40 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 0.2 pip

More Forex Brokers News

As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!
This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

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Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

Global award-winning brokerage FXTM has launched their biggest deposit bonus promotion ever. The broker is now offering an extra 30% back from every amount their traders deposit over a period of 30 days, up to a total of $5,000. Read more

Award-winning forex brokerage FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

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